The information contained
within this Announcement is deemed by Invinity Energy Systems plc
to constitute inside information as stipulated under the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by
virtue of the European Union (Withdrawal) Act 2018
("MAR").
6 September 2024
Invinity Energy Systems
plc
("Invinity" or the "Company")
Board
Changes
Jonathan Marren succeeds
Larry Zulch as Chief Executive Officer
Invinity Energy Systems plc (AIM:
IES) (AQSE: IES) (OTCQX: IESVF), a leading
global manufacturer of utility-grade energy
storage, today announces that the Company's
Chief Executive Officer Larry Zulch has informed the Board of his
intention to retire and has stepped down as CEO and from the Board
of Invinity with immediate effect.
Jonathan Marren, previously Chief
Financial Officer and Chief Development Officer, has been appointed
as CEO on a permanent basis to lead Invinity through the next phase
of the Company's corporate journey. Jonathan will be supported on
the executive team by Chief Commercial Officer Matt Harper and a
new Chief Financial Officer, for which the Board has immediately
commenced the selection process.
Neil O'Brien, Non-Executive Chairman
at Invinity said:
"Invinity was created out of a
transatlantic merger executed at the very peak of the COVID crisis.
Larry led the Company through a period of unprecedented disruption
and out the other side, launching a new product, the VS3 - now one
of the world's most widely deployed modular flow batteries. He has
been instrumental in the development and design of our
next-generation product as well as being a global advocate and
spokesperson not just for Invinity and the flow battery industry
but for the energy transition as a whole.
"On behalf of the Board as well as
the entire team at Invinity, I would like to thank Larry for the
dedication, hard work, wisdom and skill he has brought to his four
years as CEO at Invinity. We wish him all the best in his
retirement."
Larry Zulch, Chief Executive Officer
at Invinity said:
"It's been a privilege to have led
Invinity from its inception in April 2020 until now. Our incredibly
talented and dedicated team has successfully commercialised modular
flow batteries and proven their position as the leading alternative
to lithium-ion for stationary energy storage.
"The launch of our next-generation
product, scheduled for later this year, will mark the next phase in
Invinity's journey, making now the right time to hand over
leadership. I have every faith in Jonathan, Matt, and the entire
Invinity team continuing Invinity's journey toward playing a vital
role in our net zero future. I will be a strong supporter, now in
my capacity as a shareholder rather than an executive."
Stay up to date with news from
Invinity. Join the distribution list for the Company's monthly
investor newsletter here.
Enquiries:
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Invinity Energy Systems plc
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+44 (0)20 4551 0361
|
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Neil O'Brien, Non-Executive
Chairman
Joe Worthington, Director of
Communications and Investor Relations
|
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Canaccord Genuity (Nominated Adviser
and Joint Broker)
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+44 (0)20 7523 8000
|
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Henry Fitzgerald-O'Connor / Harry
Pardoe / Charlie Hammond
|
|
|
|
|
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VSA
Capital (AQSE Corporate Advisor, Financial Adviser and Joint
Broker)
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+44 (0)20 3005 5000
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Andrew Monk / Andrew Raca
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Tavistock (Financial PR Advisor)
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+44 (0)20 7920 3150
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Simon Hudson / Saskia Sizen / Adam
Baynes
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invinity@tavistock.co.uk
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Notes to Editors
Invinity Energy Systems plc (AIM:
IES) (AQSE: IES) (OTCQX: IESVF)
manufactures vanadium flow batteries for
large-scale, high-throughput energy storage requirements of
business, industry and electrical networks.
Invinity's factory-built flow
batteries run continually with no degradation for over 25 years,
making them suitable for the most demanding applications in
renewable energy production. Energy storage systems based on
Invinity's batteries are safe, reliable, and economical, and range
in size from less than 250 kilowatt-hours to tens of
megawatt-hours.
Invinity was created in April 2020
through the merger of two flow battery industry leaders: redT
energy plc and Avalon Battery Corporation. With 75 MWh of systems
already deployed or contracted for delivery across 82 sites in 15
countries, Invinity is active in all major global energy storage
markets and has operations in the UK, Canada, USA, China and
Australia. Invinity Energy Systems plc is quoted in the UK on AIM
and AQSE and trades in the USA on OTCQX.
To find out more, visit
invinity.com,
sign up to our monthly
Investor Newsletter here or
contact Investor Relations on via +44 (0)20 4551 0361 or
ir@invinity.com.